May 12, 2013, 8:00 AM EDT
Give credit to Chris Hansen and his Seattle group — as well as the Maloof family who want to sell the Kings to them — because they have not given up.
After the NBA’s relocation committee voted unanimously to reject the idea of moving the Sacramento Kings to Seattle — essentially killing the sale of the team to the Hansen’s Seattle group — most groups would have retreated to fight another day.
This group didn’t. First Hansen’s team– which incudes Microsoft CEO Steve Balmer, who may be taking a larger role with the group — upped its valuation and bid for the team by $75 million.
Instead, the cash-strapped Maloofs have made a “backup” agreement with the Hansen-Ballmer group to sell it 20 percent of the team for $125 million to allow the Maloofs to continue to operate the franchise….
Sources said that new proposal also included a $115 million offer to owners as a relocation fee, which would amount to about $4 million per team. By comparison, in 2008 when the Oklahoma moved from Seattle, they paid a $30 million total fee to the other owners.
To consider these incredible new figures, the NBA relocation committee is planning to re-evaluate the Hansen-Ballmer offer and has scheduled another meeting ahead of next Tuesday’s full owners meeting in Dallas, sources said.
It’s an interesting plan… but it’s not going to work.
Well, unless the relocation committee changes its mind when it talks, but I wouldn’t bet on it. Their vote was always about what Sacramento did right in putting together a counter offer led by Silicon Valley billionaire Vivek Ranadive, professional leagues want cities that fight to keep their teams. It wasn’t about Seattle, other than they were good leverage.
The big problem with this “backup plan” is the majority of NBA owners have to approve the sale of even a minority of any team. And there is no way the owners are going to approve a sale of 20 percent of a team to a group clearly looking to move the team out of town when they have rejected that move already.
The Maloofs are under no legal obligation to sell their team to the Sacramento group. However, the family is reportedly cash strapped so they likely will have no choice eventually, especially if they can’t get a cash infusion from the Seattle group.
If you think what the Seattle group is trying will work, I think the penultimate paragraph of Windhost’s article sums up neatly why I would argue it will not.
Throughout this tedious process, the Maloofs and the Hansen-Ballmer group have worked without involving the league office and powerful NBA commissioner David Stern. Meanwhile, the Sacramento group and Mayor Kevin Johnson have worked with Stern every step of the way. That partnership seems to have helped the city and Ranadive get into favorable position with other owners.
And what David Stern wants….
Apr 27, 2015, 2:34 AM EDT
Love being out could be an issue in the next round as the Cavs take on the Bulls.
Apr 27, 2015, 1:38 AM EDT
The question is can Dallas replicate all they did right on the road?
Apr 26, 2015, 11:02 PM EDT
The Boston Celtics fans got a show.
Apr 26, 2015, 9:33 PM EDT
Another stellar performance from John Wall buries Toronto’s season.
Apr 26, 2015, 9:17 PM EDT
The Clippers needed their big stars to step up Sunday or they were going to be in a very deep hole. They got it.
Apr 26, 2015, 6:31 PM EDT
Blake Griffin grabbed 19 rebounds, and Austin Rivers (!) chipped in 16 points in 17 minutes off the bench.
Apr 26, 2015, 6:30 PM EDT
With the new salary cap, Davis’ deal could approach $140 million.
Apr 26, 2015, 5:18 PM EDT
Kevin Love gets hurt, Cleveland gets revenge, and Boston gets swept
Apr 26, 2015, 4:58 PM EDT
Conley suffered the injury in Memphis’ Game 3 win in Portland.
Apr 26, 2015, 4:30 PM EDT
It sounds like he’s taking a victory lap.
Apr 26, 2015, 2:55 PM EDT
Smith could face suspension.
Apr 26, 2015, 1:25 PM EDT
He will not return Sunday.
Apr 26, 2015, 12:30 PM EDT
Apr 26, 2015, 11:00 AM EDT
“He’s the guy they want,” the report says.
Apr 26, 2015, 9:30 AM EDT
Players were given the option by the team’s GM, but Aldridge — who will be an unrestricted free agent this summer — was the only one who chose to leave.
Apr 26, 2015, 8:00 AM EDT
He was getting his buckets at the rim or on the right side of the floor.
Apr 26, 2015, 2:37 AM EDT
Memphis’ offense was the best it has looked this series.
Apr 26, 2015, 1:24 AM EDT
There is no update on the severity of his injury yet.
Apr 26, 2015, 12:07 AM EDT
Jared Dudley’s pass was fantastic.
Apr 25, 2015, 10:50 PM EDT
Golden State wins Game 4, 109-98
- Rumor: Kevin Love out minimum of two weeks, will likely miss most or all of series vs. Bulls 2
- Monta Ellis, J.J. Barea pairing ignites Mavericks offense, gets Dallas Game 4 win over Houston 1
- Wizards blow out Raptors to complete first-round sweep 17
- Chris Paul scores 34 points, Clippers win Game 4 to even series with Spurs 6
- Cavaliers advance to second round – but but maybe lose Kevin Love and moral high ground in process 52
- Mike Conley out for Game 4 with “serious” facial injury, no timetable for return 6
- Grizzlies start fast, hang on to beat Portland, take 3-0 series lead 2
- Bucks outwork Bulls, stay alive on Jerryd Bayless game-winner 6